Instructions For Form 1120-Ric - 2016 printable pdf download

2016

Department of the Treasury

Internal Revenue Service

Instructions for Form

1120-RIC

U.S. Income Tax Return for Regulated Investment Companies

and its instructions, such as legislation

A problem is causing financial difficulty

Section references are to the Internal Revenue

Code unless otherwise noted.

enacted after this form and instructions

for the business.

were published, go to

The business is facing an immediate

Contents

Page

threat of adverse action.

Photographs of Missing Children . . . .

The RIC has tried repeatedly to contact

The Taxpayer Advocate Service . . . . .

What's New

the IRS but no one has responded, or the

How To Get Forms and

IRS hasn't responded by the date

Publications . . . . . . . . . . . . . . .

Changes in due date for filing RIC re-

promised.

General Instructions . . . . . . . . . . . . .

turns. For tax years beginning after 2015,

The TAS toolkit at

Purpose of Form . . . . . . . . . . . . . . .

the due date for filing RIC returns

can help

Who Must File . . . . . . . . . . . . . . . .

generally is the 15th day of the 4th month

the RIC understand these rights.

after the end of the RIC’s tax year. Special

General Requirements To Qualify

as a RIC . . . . . . . . . . . . . . . . .

rules apply for RICs with tax years ending

TAS has offices in every state, the

Other Requirements

. . . . . . . . . . . .

in June. See When To File, later.

District of Columbia, and Puerto Rico.

Definition of a Fund . . . . . . . . . . . . .

Local advocates' numbers are in their

Increase in penalty for failure to file.

When To File . . . . . . . . . . . . . . . . .

local directories and at

For returns required to be filed after

Who Must Sign . . . . . . . . . . . . . . . .

. The RIC

December 31, 2015, the minimum penalty

Paid Preparer Authorization . . . . . . . .

can also call TAS at 1-877-777-4778.

for failure to file a return that is over 60

Assembling the Return . . . . . . . . . . .

days late has increased to the smaller of

TAS also works to resolve large-scale

Tax Payments . . . . . . . . . . . . . . . .

the tax due or $205. See Late filing of

or systemic problems that affect many

return, later.

Estimated Tax Payments . . . . . . . . .

taxpayers. If the RIC knows of one of

Interest and Penalties . . . . . . . . . . . .

Alternative tax for RICs with qualified

these broad issues, please report it to TAS

Accounting Methods . . . . . . . . . . . .

timber gains. For tax years beginning in

through the Systemic Advocacy

Accounting Periods . . . . . . . . . . . . .

2016, an alternative tax may apply if a RIC

Management System at

Rounding Off to Whole Dollars . . . . . .

has both net capital gain and qualified

Recordkeeping . . . . . . . . . . . . . . . .

timber gain (as defined in section 1201(b)

For more information, go to

(2)). See the instructions for Part II—Tax

Other Forms That May Be

Required . . . . . . . . . . . . . . . . .

on Undistributed Net Capital Gain Not

Statements . . . . . . . . . . . . . . . . . .

Designated Under Section 852(b)(3)(D),

How To Get Forms

later.

Specific Instructions . . . . . . . . . . . . .

and Publications

Period Covered

. . . . . . . . . . . . . . .

Photographs of Missing

Name and Address . . . . . . . . . . . . .

Internet. You can access the IRS website

Children

Item B. Date RIC Was

24 hours a day, 7 days a week, at

IRS.gov

Established . . . . . . . . . . . . . . .

The Internal Revenue Service is a proud

to:

Item C. Employer Identification

partner with the

National Center for

Download forms, instructions, and

Number (EIN) . . . . . . . . . . . . . .

Missing & Exploited Children ®

publications;

Item D. Total Assets . . . . . . . . . . . . .

(NCMEC). Photographs of missing

Order IRS products online;

Item E. Final Return, Name

children selected by the Center may

Research your tax questions online;

Change, Address Change, or

appear in instructions on pages that would

Search publications online by topic or

Amended Return . . . . . . . . . . . .

otherwise be blank. You can help bring

keyword;

Part I—Investment Company

these children home by looking at the

View Internal Revenue Bulletins (IRBs)

Taxable Income . . . . . . . . . . . .

photographs and calling 1-800-THE-LOST

published in recent years; and

Part II—Tax on Undistributed Net

(1-800-843-5678) if you recognize a child.

Capital Gain Not Designated

news by email.

Under Section 852(b)(3)(D) . . . .

The Taxpayer Advocate

Schedule A—Deduction for

Tax forms and publications. The RIC

Service

Dividends Paid . . . . . . . . . . . .

can download or print all of the forms and

Schedule B—Income From

publications it may need at

The Taxpayer Advocate Service (TAS) is

Tax-Exempt Obligations . . . . . .

formspubs.

an independent organization within the

Schedule J—Tax Computation . . . . .

IRS that helps taxpayers and protects

Otherwise, the RIC can go to

Schedule K—Other Information . . . .

taxpayer rights. TAS's job is to ensure that

orderforms

to place an order

Schedule L—Balance Sheets per

every taxpayer is treated fairly and knows

and have forms mailed to it. The RIC

Books . . . . . . . . . . . . . . . . . .

and understands their rights under the

should receive its order within 10 business

Schedule M-1 . . . . . . . . . . . . . . . .

Taxpayer Bill of

Rights.

days.

Future Developments

As a taxpayer, the RIC has rights that

For the latest information about

the IRS must abide by in its dealings with

developments related to Form 1120-RIC

the RIC. TAS can help the RIC if:

Jan 26, 2017

Cat. No. 64251J

Instructions For Form 1120-Ric - 2016

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